Funds
Fund focus: InnoSpring builds cross-border bridges
San Francisco's Artisan State faced the classic start-up dilemma: a great idea with no way to make it happen. The firm knew there was demand for professional-quality photo books at affordable prices, but it didn’t have the facilities to produce them....
Fund focus: Shoreline rides the China credit cycle
Ben Fanger, co-founder and managing director at China distress specialist Shoreline Capital, divides credit cycles into four phases: a credit boom or misallocated lending; decelerating growth or credit tightening; the recognition that someone has to take...
Renminbi secondaries: An underpenetrated market
Plenty of Chinese high net worth individuals want to sell LP interests in renminbi funds. Local and foreign secondaries managers would like to take advantage, but they are held back by an immature market
Onshore IPOs and China VIEs: Replacement capital?
With Chinese entrepreneurs considering domestic IPOs, foreign VCs face the prospect of having to sell off investments in restricted industries. But the trend can only be sustained as long as valuations remain high
Blue Sky reaches $11.5m first close on Australia VC fund
Australia-based alternatives investor Blue Sky has reached a first close of A$15 million ($11.5 million) on its second venture capital fund. The vehicle has a full target of A$30 million.
Legend-owned third-party payment platform raises $242m
Lakala, a Chinese offline third-party payment service provider owned by Legend Holdings, has raised RMB1.45 billion ($242 million) in its latest financing round, giving the company a valuation of more than RMB10 billion.
Singapore's Temasek, CVC agree $2b deal for US generic drug firm
Singapore's Temasek Holdings is a member of a CVC Capital Partners-led consortium that has agreed to buy a controlling stake in US-based generic drug manufacturer Alvogen. The deal is said to value the company at $2 billion.
Apollo exits 4.4% stake in India's Dish TV
Apollo Global Management has exited a 4.4% stake in India-based direct-to-home (DTH) service provider Dish TV, selling about INR4.86 billion ($76.6 million) worth of shares via the open market.
Shenzhen Fortune invests $48m in Focus Media
Fortune Capital has invested RMB300 million ($48 million) in Focus Media, a PE-backed Chinese outdoor advertising firm on course for a $7.37 billion backdoor listing in Shenzhen.
China regulator allows 100% foreign ownership in e-commerce
China's Ministry of Industry and Information Technology (MIIT) has permitted foreign investors to fully own and operate e-commerce companies operating within the country.
Faering leads $11m Series C for FundsIndia
Faering Capital has led a INR700 million ($11 million) Series C round for Wealth India Financial Services, the parent company of online financial services platform FundsIndia.
Japan to lead boom in Asia restructuring activity - survey
Corporate restructuring activity in Japan should lead to a broader rise in the number of distress opportunities in Asia, as a result of both regulatory change and added pressure from investors.
Dianping leads $30m round for China’s Farmlink
Farmlink, which operates a digital platform through which small and medium-sized restaurants in China can order food supplies, has received a $30 million in Series B funding led by listings and group-buying specialist Dianping.
India's MyDentist raises $8m Series C round
Indian dental clinic chain MyDentist has raised a INR500 million ($8 million) funding round led by Swiss impact investor LGT Venture Philanthropy, with participation by existing backers Seedfund and Asian Healthcare Fund (AHF).
India's Edelweiss reaches $205m first close on credit fund
India's Edelwiess Alternative Asset Advisors has reached a $205 million first close on its second credit vehicle, EW Special Opportunities Fund II (ESOF II).
China Everbright mezz fund leads precision casting investment
China Everbright has invested an undisclosed sum in AVIC Precision Casting Science and Technology, an affiliate of Chinese state-owned aerospace and defense company Aviation Industry Corporation of China (AVIC), via its RMB Mezzanine Fund.
Qiming, Trustbridge back China education app developer
Chinese online education app developer Xuebajun has raised a $50 million Series B round led by Qiming Venture Partners and Trustbridge Partners, with participation by existing investor Vertex Ventures.
VC in Japan's universities: Getting schooled
For the past decade, Japan’s universities have been working with venture capital to commercialize their research. Recent developments in the public and private sectors suggest this relationship is evolving
LPs assume control of Exhilway's emerging markets fund
LPs have assumed control of Exhilway Global Opportunities Fund - a vehicle set up by US-based hedge fund and emerging markets private equity GP Exhilway Global - apparently following difficulty sourcing deals.
US-China incubator raises $5m for second seed fund
InnoSpring, a technology incubator platform focused on US and China-based companies, has raised $5 million for its second fund aimed at seed-stage investments.
Indian healthcare player La Renon raises $16m from Sequoia
La Renon, an Indian developer and manufacturer of pharmaceutical drugs and services, has raised INR1 billion ($16 million) in Series A funding from Sequoia Capital.
China distress specialist Shoreline closes Fund III at $500m
China-focused distressed debt and special situations investor Shoreline Capital has closed its third fund at $500 million. The GP has also reached a first close of $115 million on an overflow vehicle.
Indian fashion app Voonik raises $5m from Sequoia, Seedfund
Voonik, a personalized fashion shopping portal based in India, has raised $5 million in Series A funding from Sequoia Capital and existing investor Seedfund.
Morningside leads $15m investment in China's Luqa Pharma
Hong Kong-based pharmaceutical developer Luqa Pharma has raised a $15 million Series A round of funding led by Morningside Ventures.